Insider Selling: QuantumScape Co. (NYSE:QS) Director Sells 192,270 Shares of Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at $15,517,592.17. The sale was disclosed in a filing with the SEC, which is available through this link.

Jagdeep Singh also recently made the following trade(s):

• On Monday, August 12th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The shares were sold at an average price of $5.50, for a total value of $1,057,485.00.
• On Friday, July 5th, Jagdeep Singh sold 79,006 shares of QuantumScape stock. The stock was sold at an average price of $5.03, for a total value of $397,400.18.
• On Monday, July 8th, Jagdeep Singh sold 113,264 shares of QuantumScape stock. The stock was sold at an average price of $5.04, for a total value of $570,850.56.

QuantumScape Stock Down 1.7 %

Shares of QuantumScape stock opened at $5.83 on Friday. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.91 billion, a P/E ratio of -6.07 and a beta of 4.59. The firm’s 50 day moving average price is $6.29 and its 200-day moving average price is $5.87. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period last year, the firm earned ($0.26) EPS. On average, sell-side analysts predict that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of QuantumScape during the second quarter valued at about $680,000. Granite Bay Wealth Management LLC acquired a new stake in shares of QuantumScape during the second quarter worth $76,000. Algert Global LLC purchased a new stake in shares of QuantumScape during the second quarter valued at $175,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of QuantumScape in the 2nd quarter valued at $644,000. Finally, The Manufacturers Life Insurance Company raised its stake in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after acquiring an additional 3,527 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on QS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.95.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.